Cohen & Steers Inc. cut its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 95.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,605 shares of the real estate investment trust's stock after selling 1,715,331 shares during the period. Cohen & Steers Inc.'s holdings in Rexford Industrial Realty were worth $3,271,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Rexford Industrial Realty in the fourth quarter worth about $33,000. UMB Bank n.a. grew its holdings in Rexford Industrial Realty by 38.9% during the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Rexford Industrial Realty by 515.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock worth $58,000 after buying an additional 1,248 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at $65,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 2,709 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.
Rexford Industrial Realty Price Performance
Rexford Industrial Realty stock traded down $0.12 during midday trading on Friday, hitting $32.58. 4,910,036 shares of the company's stock were exchanged, compared to its average volume of 1,885,025. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50-day moving average price of $38.20 and a two-hundred day moving average price of $40.57. The company has a market cap of $7.69 billion, a P/E ratio of 26.92, a PEG ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $52.61.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.05. The business had revenue of $248.82 million for the quarter, compared to analysts' expectations of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.
Rexford Industrial Realty Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's payout ratio is presently 138.71%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on REXR. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a report on Tuesday, March 25th. JPMorgan Chase & Co. reduced their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Barclays dropped their price target on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 25th. Mizuho reduced their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, Robert W. Baird dropped their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $46.17.
Check Out Our Latest Research Report on Rexford Industrial Realty
Rexford Industrial Realty Profile
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Free Report)
Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.
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